All of the cloud accounting software services go out of their way to make it look easy to use but it’s accounting software, it contains things like VAT which you may not be an expert in.
Still using an accounts spreadsheet?
I list all the transactions in a spreadsheet and send it to my accountants. They do what they do and send it back to me but it’s always full of errors. So I end up checking my own work and I wonder what I’m paying them for!
Accountex hot topic roundtables
If ten of us in the audience got together to work this problem through we’d all get to a better place pretty quickly and have a good grasp of what works and what goes wrong when you deal with this topic in practice.
Clients – are they profitable and will I be paid in good time?
There’s no point having a client contract which either doesn’t make money or doesn’t pay you in good time. This doesn’t just apply to potential new business deals; it applies across your entire client base.
The virtuous circle of good bookkeeping
It’s vital to have good bookkeeping taking place day-in, day-out using bespoke software and using the results to grow your profits and your businesses.
Client profitability analysis – make more money for every sale made
Many businesses will focus on sales as the key driver for success, but anyone can make a sale if the price is low enough. Profitable sales are more important than any sales.
This must be my profit, it says so on my phone!
Cloud accounting software is often sold as being everything you need, easy to use, do it yourself etc.
Well so is a Delia Smith cookery book – and you really don’t want to see my attempt at a soufflé!
Proof of Profit
If you take care of the “proof of profit” cycle then you will consistently make the profits you should.
Profit Margins: Make more money with every sale
Increasing your profit margins results in higher profits and improved cashflow. It’s so beneficial and simple to put in to practice – start making your changes today
A gory cashflow model is a useful cashflow model – the bloodier the better
You probably can’t rely on your bank to save the day so it’s down to you